GMR Airports share price has come in focus after completing a major deal in the duty-free retail space. The company has increased its stake in Delhi Duty Free Services Private Limited (DDFS), strengthening its control over duty-free shops at Delhi airport.
GMR Airports acquired a 49.90% equity stake in DDFS from Delhi International Airport Limited (DIAL). The deal was valued at ₹1,832.24 crore and involved the purchase of over 3 crore equity shares.
After the transaction, GMR Airports’ total holding in DDFS rose to 66.93%. This meant the company now had stronger control over duty-free operations at Indira Gandhi International Airport, New Delhi.
DDFS was set up in 2009 and operated duty-free shops at Delhi airport. These shops sold products such as perfumes, alcohol, chocolates and luxury items to international travellers without local taxes.
The business showed steady growth in recent years as air travel recovered. Revenue from operations increased from ₹1,541.83 crore in FY2023 to ₹1,940.98 crore in FY2024. In FY2025, revenue rose further to ₹2,177.32 crore, reflecting higher passenger traffic and spending.
The acquisition fitted well with GMR Airports’ long-term strategy. The company had already been appointed as the new operator of the Delhi duty-free business. Increasing its stake was a natural step to gain more control and benefit fully from future growth.
Duty-free shops were an important source of income for airports. They helped airports earn money beyond flight-related charges. With more international travel expected, this business could support stable cash flows over time.
GMR Airports also planned to explore similar duty-free opportunities at other airports in India and overseas, using its experience at Delhi.
The transaction was carried out as a related-party deal on fair terms. All required approvals were received, and no separate government or regulatory clearance was needed.
GMR Airports’ decision to increase its stake in Delhi Duty Free Services strengthened its position in a growing airport business. While the deal involved a large investment, it improved control over a key revenue stream linked to rising air travel. This development kept GMR Airports’ share price in focus for investors.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.
Published on: Dec 22, 2025, 11:10 AM IST
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